IEC 62198:2025 outlines fundamental principles and general guidelines for effective risk management in projects. It emphasizes a systematic approach to risk management, drawing on the framework established by ISO 31000. The document offers guidance on the core principles of project risk management, the necessary organizational framework for implementing risk management practices, and the processes required for conducting effective risk management. This third edition supersedes the second edition published in 2013 and represents a technical update.

Key technical modifications in this edition compared to the previous one include: a) Alignment with ISO 31000, which provides guidelines for risk management, and ISO 21502, which offers guidance on project, program, and portfolio management. b) An update to the principles and general guidelines for managing project risks, reflecting advancements in risk management and leadership practices. This update particularly focuses on the implementation of risk management within the comprehensive project management framework outlined by ISO 21502, including oversight and direction related to projects by the sponsoring organization.